Fitness Giants to Be Sold in Australia

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Major Fitness Brands in Australia Set for Auction

Fitness First Australia and Jetts Fitness, two of the most well-known names in the Australian fitness industry, are reportedly set to be put up for sale. The owner of these brands, Quadrant Private Equity, is preparing to launch a formal auction for its broader Fitness & Lifestyle Group early next year. This move comes as part of a strategic decision to divest from the sector, according to reports.

JPMorgan has been appointed as the financial advisor for this process, overseeing a two-stage sale that will cover the entire portfolio of six brands under the Fitness & Lifestyle Group. The group is considered one of the largest corporate-owned gym operators in the Asia-Pacific region, with a presence across 330 locations in Australia, New Zealand, Thailand, and Singapore.

Quadrant has held ownership of the Fitness & Lifestyle Group since 2016, during which time it has expanded the company’s footprint significantly. Alongside Fitness First Australia and Jetts Fitness, the group includes other notable brands such as Barry’s Bootcamp, a high-intensity training chain that has gained popularity in recent years.

Barry’s Bootcamp, originally founded in West Hollywood, entered the Australian market in 2018 and has since become one of the group’s premium offerings. Its presence in Sydney and Melbourne includes several studios, adding to the diversity of the group's services.

The Fitness & Lifestyle Group has faced challenges due to the impact of the COVID-19 pandemic. However, it has managed to recover and achieve earnings above pre-pandemic levels, as reported by the Australian Financial Review. Despite this recovery, the decision to sell the group suggests that there may be broader strategic considerations at play.

The two-stage auction process is expected to begin next year, with the goal of securing the best possible value for the group’s assets. This development has sparked interest among potential buyers, including private equity firms and other fitness industry players looking to expand their market share.

Key Details About the Fitness & Lifestyle Group

  • Brands Under the Group:
  • Fitness First Australia
  • Jetts Fitness (New Zealand and Thailand)
  • Barry’s Bootcamp (Australia)

  • Zap Fitness

  • Geographic Presence:

  • 330 locations across Australia, New Zealand, Thailand, and Singapore

  • Additional facilities include dozens of Fitness First clubs nationwide and four Barry’s Bootcamp studios in Sydney and Melbourne

  • Operational History:

  • Quadrant Private Equity has owned the group since 2016

  • Barry’s Bootcamp entered the Australian market in 2018

  • Financial Performance:

  • Suffered from the pandemic but returned to earnings above pre-COVID levels


Industry Implications and Future Outlook

The potential sale of the Fitness & Lifestyle Group raises questions about the future of the fitness industry in Australia. With rising competition and changing consumer preferences, the sector is undergoing significant transformation. The auction could lead to new ownership structures, potentially bringing in fresh capital and innovative strategies.

For existing members and employees, the sale may bring both uncertainty and opportunities. It remains to be seen how the new owners will approach the management and expansion of the group's various brands.

As the auction process moves forward, stakeholders will be closely watching for updates on the timeline and potential bidders. The outcome of this sale could have far-reaching implications for the fitness landscape in the region.

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